Note 5 - Convertible Debentures (Details Textual) - USD ($)
|
|
|
1 Months Ended |
3 Months Ended |
12 Months Ended |
Feb. 29, 2016 |
Feb. 16, 2016 |
Feb. 29, 2016 |
Aug. 31, 2015 |
Dec. 31, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
| Series A Warrant [Member] | Thirty-Year Debentures [Member] |
|
|
|
|
|
|
|
| Residual Fair Value of Warrants |
|
|
|
$ 3,385,000
|
|
|
|
| Series A Warrant [Member] | Other Expense [Member] |
|
|
|
|
|
|
|
| Derivative, Gain (Loss) on Derivative, Net |
$ (149,000)
|
|
|
|
|
|
|
| Series A Warrant [Member] |
|
|
|
|
|
|
|
| Fair Value Assumptions, Expected Dividend Rate |
0.00%
|
|
|
|
|
|
|
| Class of Warrant or Right, Exercise Price of Warrants or Rights |
$ 8
|
|
$ 8
|
$ 13.60
|
|
|
|
| Warrant Expiration Period |
|
|
|
5 years 182 days
|
|
|
|
| Fair Value Assumptions, Expected Term |
5 years
|
|
|
|
|
|
|
| Fair Value Assumptions, Expected Volatility Rate |
91.00%
|
|
|
|
|
|
|
| Fair Value Inputs, Discount Rate |
1.20%
|
|
|
|
|
|
|
| Class of Warrant or Right, Outstanding |
|
|
|
404,412
|
|
404,412
|
|
| Warrants [Member] |
|
|
|
|
|
|
|
| Fair Value Assumptions, Expected Term |
|
|
5 years
|
|
|
|
|
| Fair Value Assumptions, Expected Volatility Rate |
|
|
91.00%
|
|
|
|
|
| Fair Value Inputs, Discount Rate |
|
|
1.20%
|
|
|
|
|
| Series B Warrant [Member] | Thirty-Year Debentures [Member] |
|
|
|
|
|
|
|
| Residual Fair Value of Warrants |
|
|
|
$ 897,000
|
|
|
|
| Class of Warrant or Right, Cancelled During Period,Value |
|
|
|
|
|
$ 159,000
|
|
| Series B Warrant [Member] |
|
|
|
|
|
|
|
| Fair Value Assumptions, Expected Dividend Rate |
|
|
|
|
|
0.00%
|
|
| Class of Warrant or Right, Number of Securities Called by Warrants or Rights |
|
|
|
606,618
|
|
|
|
| Class of Warrant or Right, Exercise Price of Warrants or Rights |
|
|
|
$ 13.60
|
|
|
|
| Warrant Expiration Period |
|
|
|
1 year 180 days
|
|
|
|
| Fair Value Assumptions, Expected Term |
|
|
|
|
|
1 year 73 days
|
|
| Fair Value Assumptions, Expected Volatility Rate |
|
|
|
|
|
88.00%
|
|
| Fair Value Inputs, Discount Rate |
|
|
|
|
|
0.57%
|
|
| Warrants Not Settleable in Cash, Fair Value Disclosure |
|
$ 25,000
|
|
|
|
$ 33,000
|
|
| Class of Warrant or Right, Outstanding |
|
|
|
222,427
|
|
222,427
|
|
| Shares Issued for Cashless Exercise of Warrants |
|
125,000
|
|
|
|
106,711
|
|
| Class of Warrant or Right, Cancelled During Period,Value |
|
$ 159,000
|
|
|
|
|
|
| Convertible Debt [Member] | Debt Issuance Cost Allocated to Debt [Member] |
|
|
|
|
|
|
|
| Debt Issuance Costs, Net |
$ 183,000
|
|
$ 183,000
|
|
|
|
|
| Convertible Debt [Member] | Debt Issuance Cost Allocated to Equity [Member] |
|
|
|
|
|
|
|
| Debt Issuance Costs, Net |
37,000
|
|
37,000
|
|
|
|
|
| Convertible Debt [Member] |
|
|
|
|
|
|
|
| Debt Instrument, Face Amount |
$ 12,500,000
|
|
$ 12,500,000
|
|
|
|
|
| Debt Conversion, Convertible Shares |
3,676,471
|
|
3,676,471
|
|
|
|
|
| Debt Instrument, Term |
|
|
3 years
|
|
|
|
|
| Debt Instrument, Interest Rate, Stated Percentage |
22.00%
|
|
22.00%
|
|
|
|
|
| Proceeds from Convertible Debt |
|
|
$ 12,319,000
|
|
|
|
|
| Warrants Not Settleable in Cash, Fair Value Disclosure |
$ 4,434,000
|
|
4,434,000
|
|
|
|
|
| Convertible Debt |
1,061,000
|
|
1,061,000
|
|
|
|
|
| Debt Instrument, Unamortized Discount |
$ 11,258,000
|
|
11,258,000
|
|
|
|
|
| Amortization of Debt Discount (Premium) |
|
|
|
|
|
$ 1,407,000
|
|
| Amortization of Debt Issuance Costs |
|
|
|
|
|
23,000
|
|
| Interest Expense |
|
|
|
|
|
1,031,000
|
|
| Debentures, Beneficial Conversion Feature [Member] |
|
|
|
|
|
|
|
| Debt Instrument, Convertible, Beneficial Conversion Feature |
|
|
6,824,000
|
|
|
|
|
| Thirty-Year Debentures [Member] |
|
|
|
|
|
|
|
| Class of Warrant or Right, Number of Securities Called by Warrants or Rights |
|
|
|
1,102,942
|
|
|
|
| Debt Instrument, Term |
|
|
|
30 years
|
|
|
|
| Proceeds from Convertible Debt |
|
|
|
$ 4,720,000
|
|
|
|
| Convertible Debt |
|
|
|
0
|
|
|
|
| Debt Instrument, Unamortized Discount |
|
|
|
4,720,000
|
|
|
|
| Amortization of Debt Discount (Premium) |
|
4,648,000
|
|
|
|
4,720,000
|
|
| Amortization of Debt Issuance Costs |
|
$ 765,000
|
|
|
|
777,000
|
|
| Potential Proceed from Issuance of Convertible Debt |
|
|
|
15,000,000
|
|
|
|
| Gross Proceeds from Convertible Debt |
|
|
|
5,500,000
|
|
5,500,000
|
|
| Registration Payment Arrangement, Gains and Losses |
|
|
|
|
|
1,100,000
|
|
| Registration Payment |
|
|
|
|
$ 220,000
|
|
|
| Repayments of Debt |
|
|
7,500,000
|
|
|
7,500,000
|
|
| Gain (Loss) on Extinguishment of Debt |
|
|
|
|
|
$ (795,000)
|
|
| Payment After Approval of Authorities [Member] |
|
|
|
|
|
|
|
| Potential Proceed from Issuance of Convertible Debt |
|
|
|
9,500,000
|
|
|
|
| Thirty-Year Debentures, Beneficial Conversion Feature [Member] |
|
|
|
|
|
|
|
| Debt Instrument, Convertible, Beneficial Conversion Feature |
|
|
|
438,000
|
|
|
|
| Fair Value Assumptions, Expected Dividend Rate |
|
|
|
|
|
0.00%
|
0.00%
|
| Gross Proceeds from Financing Transaction |
|
|
$ 15,000,000
|
|
|
|
|
| Stock Issued During Period, Shares, New Issues |
|
|
735,294
|
|
|
|
|
| Sale of Stock, Price Per Share |
$ 3.40
|
|
$ 3.40
|
|
|
|
|
| Stock Issued During Period, Value, New Issues |
|
|
$ 2,500,000
|
|
|
$ 2,464,000
|
|
| Class of Warrant or Right, Number of Securities Called by Warrants or Rights |
3,529,412
|
|
3,529,412
|
|
|
|
|
| Class of Warrant or Right, Exercise Price of Warrants or Rights |
$ 8
|
|
$ 8
|
|
|
|
|
| Warrant Expiration Period |
|
|
5 years
|
|
|
|
|
| Number of Warrants, Percentage of Shares Issued or to Be Issued |
|
|
80.00%
|
|
|
|
|
| Debt Issuance Costs, Net |
$ 220,000
|
|
$ 220,000
|
|
|
$ 160,000
|
|
| Period after Benchmark Reached |
|
|
15 days
|
|
|
|
|
| Net Cash and Short-Term Investment Benchmark |
$ 2,100,000
|
|
$ 2,100,000
|
|
|
|
|
| Duration of Moving Average Price |
|
|
20 days
|
|
|
|
|
| Percent of Stock Price |
|
|
125.00%
|
|
|
|
|
| Consecutive Days of Weighted Average Trading Price |
|
|
10 days
|
|
|
|
|
| Share Price |
$ 4
|
|
$ 4
|
|
|
|
|
| Fair Value Assumptions, Expected Term |
|
|
|
|
|
5 years
|
5 years
|
| Fair Value Assumptions, Expected Volatility Rate |
|
|
|
|
|
80.00%
|
75.00%
|
| Proceeds from Convertible Debt |
|
|
|
|
|
$ 18,000,000
|
|
| Convertible Debt |
|
|
|
|
|
2,489,000
|
|
| Debt Instrument, Unamortized Discount |
|
|
|
|
|
9,851,000
|
|
| Amortization of Debt Discount (Premium) |
|
|
|
|
|
6,127,000
|
|
| Amortization of Debt Issuance Costs |
|
|
|
|
|
800,000
|
|
| Interest Expense |
|
|
|
|
|
1,864,000
|
14,000
|
| Approval for Grant in Amount for Clinical Trial |
|
|
|
$ 10,000,000
|
|
|
|
| Registration Payment Arrangement, Gains and Losses |
|
|
|
|
|
(1,100,000)
|
|
| Derivative, Gain (Loss) on Derivative, Net |
|
|
|
|
|
3,395,000
|
|
| Gain (Loss) on Extinguishment of Debt |
|
|
|
|
|
$ (795,000)
|
|